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AmTrust selects One Inc's PremiumPay

Wednesday 30 August 2023 08:37 CET | News

US-based AmTrust Financial Services has selected One Inc’s Premium Pay platform for monitoring and improving customer experience and collection process.

The collaboration with One Inc aims to provide AmTrust with the digital framework required to improve and optimise user experience by implementing a contemporary payment solution, as per AmTrust’s officials.

US-based AmTrust Financial Services has selected One Inc’s Premium Pay platform for monitoring and improving customer experience and collection process.

 

One Inc’s PremiumPay solution

PremiumPay is a low code-no code payment solution that aims to improve the way businesses engage with their customers. The solution’s integrated configuration tools offer the possibility of branding and customisation of the digital payment experience. Moreover, businesses can manage their multi-channel communication preferences and deliver proactive messaging at decisive times during a policy term.

One Inc’s payment solution can be seamlessly integrated, as the SaaS-driven PremiumPay platform can be connected to existing Guidewire, Duck Creek, Majesco, Insuresoft, or legacy systems. PremiumPay also seeks to increase on-time payments through autopay, paperless enrolment, and payment scheduling, while configuring payment flow to accept premiums in new states or for new lines of business.

PremiumPay’s features

Businesses can perform all payment support, finance, and configuration functions within one administrative portal while being able to improve automation through matching payment records for policy or billing systems and bank activity with deposits or withdrawals for settlement funds reconciliation.

The platform allows acceptance of any payment method, by enabling policyholders to create and manage AutoPay instalment plans, pay for multiple policies within one transaction, and combine credit cards to pay for premiums. Moreover, it includes a digital wallet option that allows a cohesive payment experience across all payment channels.

The system maintains accurate customer payment information with bank account validation (BAV), card updater service, and address verification service (AVS). Furthermore, PremiumPay’s security features keep policy-holders’ sensitive data safe and stored off the network with multi-step authentication, and tokenization, while complying with PCI DSS, Nacha, SOC 1 and SOC 2, HIPAA, and ADA. 

More information about One Inc

One Inc’s objective is to modernise the insurance industry by offering a frictionless payment network. The company helps carriers in improving their operations by reducing costs, increasing security, and optimising the customer experience. The end-to-end digital payments platform offers expanded payment options, multi-channel digital communications, and digital claim payment.

Recently, multiple companies have partnered with One Inc, including Origami Risk, for the company’s ClaimsPay solution, as well as National Indemnity Company (NICO) for its PremiumPay solution. 

Source: Link


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Keywords: online payments, payments , online platform, tokenization, insurance
Categories: Payments & Commerce
Companies: One Inc
Countries: World
This article is part of category

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